Power Reads: 5 Interesting Articles That Will Help You This Week

Each week, I select a few articles that rise above the fray and hopefully help you on your journey in leadership and the CRE world. They pull from one of four "corners": corporate real estate, technology, management science and anything positive. Each day we can become a better version of ourselves.

1. You Can't Build A Church For Easter Sunday: How We Will Manage Office Usage In The Future

I get asked two questions a lot: When do you think people will go back to the office, and do you think we will need less space now that everyone is accustom to working from home in their athleisure wear? My answers: It depends on where you live but likely between summer to early fall, and yes, we will need less space in the short-term. I would, however, counsel you against returning to the office in that leotard.

After a year of figuring this work from home thing out, many executives are convinced that most of their workforce needs to come to the office at least some of the time. It is true that American workers in 2021 will have the flexibility they could have only dreamed of in early 2020. That being said, it is widely understood that 100% remote won't work for most job types. Being together in person is a deeply embedded need and part of the human experience. Plus, it's just good business.

As a friend of mine said recently, "Some companies will get really excited about dumping all their office space until they see their employees fleeing to competitors and their profits acting as if they have Covid-19. Then the sticks and bricks will get a little more focus from management."

2. Why You Can’t Afford to Ignore #CRE any Longer

Last week, industry leaders Ken Ashley, Nick Luczyszyn and The Wilbert Group released the #CREi Top LinkedIn Influencers in Commercial Real Estate. Taking a closer look at this list and related content provides a bold reminder why you can’t afford to ignore social media and that hashtag #CRE any longer.

It’s not exactly a secret, social media created a significant shift in how we communicate with one another. The recent pandemic however, has only accelerated this and raised the bar in terms of what digital engagement looks like today. It has become the great equalizer; small and large companies alike can build their brands, expand their businesses, and connect with clients on a level playing field.

Despite its obvious benefits, many still avoid platforms like Twitter, LinkedIn, Instagram and now Clubhouse out of fear of the unknown. For the novice, social media is difficult to fully understand on the surface, but complex and interesting on the inside. As a late adopter, I learned this firsthand. 

3. Office App Makers Cashing In on Pandemic Safety Needs

Investors are pouring money into phone apps that enable companies to monitor employees’ movements and ensure they are complying with social distancing and other Covid-19-related health protocols.

Employers can tell from a glance at the screen whether a conference room has exceeded the number of employees who can safely meet, or whether too many people are on one floor. Workers can also use these apps to take precautions like checking how many colleagues are using the gym, or how recently the cafeteria was sanitized.

While apps with similar features have been available for years for office security or convenience purposes, landlords and big corporate tenants are giving these tools a fresh look during the pandemic. This is especially true as the recent rollout of vaccines in the U.S. raises the prospect that millions of workers could return to their office this year.

4. The Silver Linings of Pandemic-Era Air Travel

Can any good come from this?

In travel, yes, there actually are some silver linings to the pandemic. Some technologies are rolling out faster. Some key airport projects have been sped up to take advantage of the absence of passengers and airplanes. Some airline policies have changed for the benefit of fliers.

The lack of cleaning on airplanes and in airports and hotels has been exposed. Cleanliness standards may be changed for at least the next several years.

The partial elimination of change fees is one of the major pandemic-related changes for air travel, although like so many things with airlines, there’s fine print that erodes consumer value.

5. Your Company Downsized During the Pandemic. Here’s How to Rebuild.

Anthony Harvie/Getty Images

As companies recover from their pandemic downsizing, they have a golden opportunity — and critical need — to reset their organizations to prosper in the era ahead.

When the pandemic caused the economy to crash, companies raced to stay solvent by reducing their costs to match their declining revenues. Most focused on slashing their personnel costs through downsizing or salary reductions, or both. For midsize companies without surplus resources or diversification, this was critical for survival. Time was of the essence, so most downsizing was largely implemented across the board.

In the post-pandemic period, many managers’ strong instinct is to rebuild their organizations as they were pre-pandemic. This is a big mistake — they’re facing a different business environment and set of customer needs. During the pandemic, giant digital competitors grew rapidly in response to changes in buyer behavior (e.g., B2C online ordering and direct shipment), which drove many smaller companies to the brink of bankruptcy.

Your success blesses others. I wish you a great a hugely impactful week!